Markets activity remained range bound on Tuesday with initial attempts to regain above 25,880 in Nifty was met with major resistance to finally end on a flat note. The attack on Israel from Iran is likely to trigger major selling in Indian markets if the issue escalates. Overall, the setup in markets suggest selling pressure is expected to aggravate further below 25,500 with a potential decline likely between 11-15%.
Nifty50 Chart
Stocks to watch
Positive Read through
- Aurobindo Pharma – Receives US FDA approval for cephalexin tablets USP, 250 MG and 500 MG.
- APL Apollo – Total sales for Q2FY25 increased to 7.58 lakh tons.
- Zydus Life – Receives tentative approval from USFDA for Enzalutamide Tablets, 40 mg and 80 mg.
- Marico – Expects gross margins to decline annually.
- OLA – Company sold 23,965 vehicles in September vs 26,928 vehicles MoM.
- Eicher Motors – September Royal Enfield sales above estimates, up by 11 pct YoY at 86,978 units.
- JSW Cement – Adds 2 MTPA capacity at Vijayanagar plant in Karnataka.
- DRL – Signs voluntary licensing agreement with Gilead Sciences to commercialise Lenacapavir.
- Marico – Q2 consolidated sales growth remained in high-single digits, rural demand outperforms urban.
- Bharat Forge – September class 8 truck orders grew 124 pct MoM, at a 10-month high.
- Hero Moto – September total sales above estimates, up 18.7 pct YoY & exports rose 21.7 pct YoY.
- JSW Energy – Arm gets Lol for 1,500 MW pumped hydro storage in Maharashtra.
- Aurobindo – Final US FDA nod to manufacturing & market cephalexin tablets, 180-days shared EXCL.
- Hind Zinc – Q2 mined metal production up 2 pct, saleable metal production up 8 pct YoY.
- Jubilant Ingrevia – Supply agreement for Agro intermediate by arm to major Agrochem company.
Negative Read through
- Coal India – September coal production down 1 pct, offtake down 1.4 pct YoY.
- OMCs/Paint Cos – Oil up for 3rd straight day, brent near USD 75/bbl amid West Asia tensions.
- Maruti – Total September PV sales down 3 pct, total sales up 1.9 pct YoY.
- Dabur – Cons Q2FY25 sales to decline in mid-single digits, margin to decline to mid-high teens.
- Blue Star – WJT file higher than estimates claim of Rs. 4.62 bn in case against company in ICC.
- Paras Defence – To raise funds via QIP, floor price Rs. 1,096.35/sh.
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